Schneider Acquires Lee Technologies
April 4, 2011
Schneider Electric, the global specialist in energy management, announced today that it has acquired Lee Technologies, a leading service provider for the data centers of the North American market. Headquartered in Fairfax, Virginia, Lee Technologies has over 300 employees and generated sales of about USD 140 million (approx. €104 million) in 2010. The company specializes in the mission-critical data center services, including remote monitoring command centers and on-site critical facility operations. It caters to several customer segments including federal government, financial services, telecommunications, information technology and healthcare. Lee Technologies brings to Schneider Electric capabilities ranging from consulting, site assessment, design, equipment specification and selection to integration, commissioning, facility operations staffing, maintenance and proactive 24x7 remote monitoring. This full repertory of services will reinforce Schneider Electric’s IT business skills in data center management and its ability to provide data centres, one of the world’s fastest growing end-users of energy, with the best standards in energy conservation and reliability. Laurent Vernerey, Executive Vice President, Schneider Electric IT business said: “Lee Technologies possesses a deep and intimate knowledge of both its customers’ needs and data center operations. This unique combination of business and technical expertise and total lifecycle service will broaden our client base, extend our advanced service capabilities and enable us to provide our customers a totally ‘managed’ contract to meet their energy conservation and reliability needs.” “We are excited about the opportunity to join Schneider Electric as we have always held the company in high esteem. We are confident that our broad and comprehensive offering for data centers will be well positioned to benefit from solid growth opportunities in the future” said John C. Lee IV, Lee Technologies, CEO and Chairman. This acquisition is expected to be accretive on earnings per share from the first year and to meet Schneider Electric’s Return on Capital Employed criteria.